Debt Recovery Services For Creditors
We can help you understand the effect of insolvency on the rights and remedies available to you depending on the process of insolvency involved and the stage that it is in.
We can also help you assess the likely outcome or return to you as a result of the insolvency by assisting you interpret documents and reports provided to you by insolvency practitioners.
What is debt recovery for creditors (creditors services)?
We can attend creditor meetings (virtual or physical) on your behalf (or with you). We will also help you assess the recoverability of the debt. We can advise on retention of title claims: help you make them, assist you to reach an agreement with the insolvency practitioner on the validity of your claim and its resolution.
We can also file proxies on your behalf and offer general advice on debt collection
The Debt Recovery Process / Advice to creditors involved in insolvency procedures
Receive Document
Advice
Creditors meetings
Testimonial
Chamberlain & Co represented me at the creditors meeting posing questions to the directors providing the answers I wanted.
I supplied my customer with my own branded goods and prior to payment was advised that they had entered liquidation. Chamberlain & Co reviewed my retention of title clause in my terms of trade, then contacted the appointed insolvency practitioner, established the validity of my claim and made an agreement for me to either be paid for my goods or to arrange for them to be uplifted to be sold elsewhere.
Contact Us
We are happy to offer you an initial free consultation that can be done remotely on a video, telephone call or a face to face meeting. We can then advise upon the suitable options available.
Give us a call on 0113 242 0808 or e-mail advice@chamberlain-co.co.uk
Benefits of using Debt Recovery Services
Chamberlain & Co handle all the complicated paperwork, relieving the stress of an otherwise stressful situation ensuring the claim is professionally handled and successfully resolved.
We will represent you at any creditors meeting ensuring any concerns you have are addressed.
We can advise you regarding any potential retention of title claims and how to recover your goods or get paid.
Debt Recovery Services FAQs
Can I get guidance on whether the insolvent business has declared all required information and assets?
Yes, Chamberlain & Co can review the documentation produced by business proprietors and the insolvency practitioner and can consider accounts previously lodged on behalf of the business to assess whether there may be any further assets or concerns which are no immediately clear from that paperwork. We can also, if engaged on your behalf, pursue these matters with the convening practitioner.
I do not think that all the business assets have been properly declared in the statement of affairs, who do I ask for help?
The meeting of creditors is an opportunity for creditors to enquire of the directors and insolvency practitioner about any items or matters which they think may have been excluded from the documentation received. Chamberlain & Co can help you review the documentation and pose the relevant questions to be asked either at the creditors meeting or subsequently by the appointed Insolvency Practitioner.
I have not been paid for my goods but I have a retention of title clause included on my invoices and in my account opening documentation, can I remove my goods or get paid for them by the Insolvency Practitioner?
Chamberlain & Co can review your retention of title documentation and give you a view on its validity. The validity depends upon whether it is properly incorporated in the contract, this is best done by including it in the account opening contractual documentation.
An invoice is a post contractual document and hence the clause may not be effective. If there has been extensive dealings with the business and the invoices have been seen by an individual at the customer capable of contractually binding the company then it is possible that the clause has been incorporated through the course of dealings. Once incorporation is established the next point to consider is whether the clause is a ‘simple clause’ covering the goods on a single invoice, or an ‘all monies clause’ covering all goods supplied.
Once this is established then a supplier will need to find out if any of its supplies are still held by the business and whether they can be identified as being supplied by itself.
I have received lots of documents concerning my customer that has become insolvent (going into liquidation / administration / proposing a voluntary arrangement). A creditors meeting has been called and I have received a proxy form, can anyone help me understand it and fill in the proxy form?
Chamberlain & Co can help you understand the documentation, fill in the proxy form and assist you to make relevant representations or propose variations and modifications to any proposals as appropriate.
